Austin Community College

Department of Economics

ECON 2301

Principles of Macroeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2301, Principles of Macroeconomics.

Section Number: 018

Synonym: 03168

Class Time: M-Th 12:25 p.m.- 2:15 p.m.

Classroom: NRG 2120

Office #: NRG 2131

Office Phone # 512-223-4766

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: M-Th : 11:15 12:15 p.m.. or By Appointment

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a

whole, the effects of government spending and taxation policies and the effects of

the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is

concerned with unemployment, inflation, and the business cycle.

 

Required Textbook:

Principles of Macroeconomics (6th Ed) ISBN 978-0-538-45306-6.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Macroeconomics . ISBN 978-0-538-47720-8 .David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale

This course is meant to give students insight into the dynamics of our national

economy. The knowledge gained in the course will make students better informed

citizens and allow them to follow the debates over national economic policy

reported in the news media. This course is also a foundation course that will

prepare students to be successful in upper division finance, marketing, business

administration, economics, government, and social work courses

 

 

 

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the meaning of unemployment and inflation data and how that data is collected and computed;

         the meaning and components of the National Income Accounts, especially GDP;

         the meaning of the business cycle and its phases;

         and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

         how fiscal policy operates, its tools, and its advantages and drawbacks;

         how a fractional reserve banking system works;

         how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course Evaluation/Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed in class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNEMENT WILL NOT BE ACCEPTED.

 

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is Thursday June 28th , 2012.

 

 

 

 

 

 

Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar

Part 1: Introduction

 

Part II: Macroeconomic Data and Long Run Economy

a)      Measurement of National Income & Output

b)      Measurement of Cost of Living

c)      Production and Growth

d)     Unemployment and Its Natural Rate

Reading: Chapters 10, 11, 12, 15

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Wed June 6th , 2012

 

Part III: Long Run Economy, Money and Prices

a)      Saving, Investment and Financial System

b)      The Natural Rate of Unemployment

c)      The Monetary system

d)     Inflation, Its causes and Costs

Reading: Chapters 13, 14, 16, 17

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Wed. June 20th 2012

 

Part IV: Open Economy and Short Run Economic Fluctuations.

a)      Aggregate Demand and Supply

b)      Open Economy

c)      Macroeconomic Policy Debates

Reading: Chapters 20, 21, 22 18, 19,

Quizzes: To be announced)

Homework: (To be announced )

Test III: Tuesday July 3rd 2012

 

ECON 2302

Principles of Microeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2302, Principles of Microeconomics.

Section Number: 027

Synonym: 05527

Class Time: M- Th 2:25 4:15 p.m.

Classroom: NRG 2120

Office #: NRG 2131

Office Phone # 512-223-4766;

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: M-Th 4:15 5:15pm. or By Appointment

 

Course Description-

Principles of Microeconomics deals with the interactions between individual

households and business firms. The concepts of supply and demand will be

studied; students will learn what these concepts mean, how they operate, and how

prices are determined. Market structure, market failure and income distribution

will also be considered.

 

Required Textbook:

Principles of Microeconomics (6th Ed) ISBN 978-0-538-45304-2.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Microeconomics .ISBN 978-0-538-47745-1

David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale-

This course is meant to give students insight into the dynamics of a market based

economy and how through its mechanism scarce resources are allocated. The

theoretical and actual role of the government in this market system will also be

addressed. The knowledge gained in the course will make students better

informed citizens and allow them to follow the debates over various economic

events and policies reported in the news media. This course is also a foundation

course that will prepare students to be successful in upper division finance,

marketing, business administration, economics, government, and social work

courses.

Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the basic concepts of scarcity and opportunity cost;

         the forces of demand and supply and how they interact to determine an equilibrium price;

         how and why equilibrium prices might change and their impact on resource allocation;

         the theory of consumer behavior;

         the theory of the firm;

         the theoretical market structures of perfect competition and monopoly.

 

Course Evaluation & Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed I class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNMENT WILL NOT BE ACCEPTED.

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is Thursday June 28th , 2012.


Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.
Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar-

Part 1: Fundamentals

a)      Ten principles

b)      Thinking Like and Economist

c)      Interdependent and Gains from Trade.

 

Reading: Chapters 1, 2, 3, 4

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Wed June 6th , 2012

 

 

Part II: Supply and Demand Theories

a)      Market Forces of Supply and Demand

b)      Elasticity

c)      Consumer, Producer and Efficiency of Markets

d)     Applications

e)      Cost of Taxation

 

Reading: Chapters 4, 5, 6, 7, 8

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Wed. June 20th 2012

 

Part III Firms and Markets

a)      Cost of production

b)      Firms in Competitive Markets

c)      Monopoly

d)     Oligopoly

e)      Monopolistic Competition

f)       Markets for Factors of Production

Reading: Chapters 13, 14, 15, 16, 17,

Quizzes: (To be announced)

Homework: (To be announced)

Test III: Tuesday July 3rd 2012

 

 

 

 

 

 

Austin Community College

Department of Economics

ECON 2301

Principles of Macroeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2301, Principles of Macroeconomics.

Section Number: 016

Synonym: 05291

Class Time: TTh 6:00 p.m. - 7:50 p.m.

Classroom: NRG 2120

Office #: NRG 2131

Office Phone # 512-223-4766

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: TTh: 5:30 6:00 p.m...& 8:00pm 8:30pm or By Appointment

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a

whole, the effects of government spending and taxation policies and the effects of

the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is

concerned with unemployment, inflation, and the business cycle.

 

Required Textbook:

Principles of Macroeconomics (6th Ed) ISBN 978-0-538-45306-6.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Macroeconomics. ISBN 978-0-538-47720-8 .David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale

This course is meant to give students insight into the dynamics of our national

economy. The knowledge gained in the course will make students better informed

citizens and allow them to follow the debates over national economic policy

reported in the news media. This course is also a foundation course that will

prepare students to be successful in upper division finance, marketing, business

administration, economics, government, and social work courses

 

 

 

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the meaning of unemployment and inflation data and how that data is collected and computed;

         the meaning and components of the National Income Accounts, especially GDP;

         the meaning of the business cycle and its phases;

         and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

         how fiscal policy operates, its tools, and its advantages and drawbacks;

         how a fractional reserve banking system works;

         how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course Evaluation/Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed in class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNEMENT WILL NOT BE ACCEPTED.

 

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is Wednesday August 1st 2012.

 

 

 

 

 

 

 

Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do these three weeks before the start of the semester.

 

Course Outline & Calendar

Part 1: Introduction

 

Part II: Macroeconomic Data and Long Run Economy

a)      Measurement of National Income & Output

b)      Measurement of Cost of Living

c)      Production and Growth

d)     Unemployment and Its Natural Rate

Reading: Chapters 10, 11, 12, 15

Quizzes: (To be announced)

Homework: (To be announced)

Test I: Wed Thursday 21st 2012

 

Part III: Long Run Economy, Money and Prices

a)      Saving, Investment and Financial System

b)      The Natural Rate of Unemployment

c)      The Monetary system

d)     Inflation. Its causes and Costs

Reading: Chapters 13, 14, 16, 17

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Thursday . July 19th 2012

 

Part IV: Open Economy and Short Run Economic Fluctuations.

a)      Aggregate Demand and Supply

b)      Open Economy

c)      Macroeconomic Policy Debates

Reading: Chapters 20, 21, 22 18, 19,

Quizzes: To be announced)

Homework: (To be announced)

Test III: Tuesday August 14th 2012

 

Austin Community College

Department of Economics

ECON 2301

Principles of Macroeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2301, Principles of Macroeconomics.

Section Number: 041

Synonym: 29922

Class Time: M-Th 10:00 a.m.- 11:50 a.m.

Classroom: RRC3- 3233.00

Office #: RRC1- 1206

Office Phone # 512-223-4766

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: M-Th : 9:30am 10:00 a.m.& 12:00 noon -12:30pm or By Appointment

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a

whole, the effects of government spending and taxation policies and the effects of

the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is

concerned with unemployment, inflation, and the business cycle.

 

Required Textbook:

Principles of Macroeconomics (6th Ed) ISBN 978-0-538-45306-6.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Macroeconomics . ISBN 978-0-538-47720-8 .David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale

This course is meant to give students insight into the dynamics of our national

economy. The knowledge gained in the course will make students better informed

citizens and allow them to follow the debates over national economic policy

reported in the news media. This course is also a foundation course that will

prepare students to be successful in upper division finance, marketing, business

administration, economics, government, and social work courses

 

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the meaning of unemployment and inflation data and how that data is collected and computed;

         the meaning and components of the National Income Accounts, especially GDP;

         the meaning of the business cycle and its phases;

         and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

         how fiscal policy operates, its tools, and its advantages and drawbacks;

         how a fractional reserve banking system works;

         how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course Evaluation/Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed in class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNEMENT WILL NOT BE ACCEPTED.

 

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is

Wednesday June 22nd 2011.

 

 

 

 

 

 

 

 

Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar

Part 1: Introduction

 

Part II: Macroeconomic Data and Long Run Economy

e)      Measurement of National Income & Output

f)       Measurement of Cost of Living

g)      Production and Growth

h)      Unemployment and Its Natural Rate

Reading: Chapters 10, 11, 12, 15

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Wed June 1st , 2011

 

Part III: Long Run Economy, Money and Prices

e)      Saving, Investment and Financial System

f)       The Natural Rate of Unemployment

g)      The Monetary system

h)      Inflation, Its causes and Costs

Reading: Chapters 13, 14, 16, 17

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Wed. June 15th 2011

 

Part IV: Open Economy and Short Run Economic Fluctuations.

d)     Aggregate Demand and Supply

e)      Open Economy

f)       Macroeconomic Policy Debates

Reading: Chapters 20, 21, 22 18, 19,

Quizzes: To be announced)

Homework: (To be announced )

Test III: Tuesday June 28th 2011

 

Austin Community College

Department of Economics

ECON 2301

Principles of Macroeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2301, Principles of Macroeconomics.

Section Number: 015

Synonym: 03

Class Time: M-Th 2:25 p.m.- 4:15 p.m.

Classroom: NRG 2120

Office #: NRG 2131

Office Phone # 512-223-4766

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: M-Th : 4:15 5:15 p.m.. or By Appointment

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a

whole, the effects of government spending and taxation policies and the effects of

the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is

concerned with unemployment, inflation, and the business cycle.

 

Required Textbook:

Principles of Macroeconomics (6th Ed) ISBN 978-0-538-45306-6.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Macroeconomics . ISBN 978-0-538-47720-8 .David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale

This course is meant to give students insight into the dynamics of our national

economy. The knowledge gained in the course will make students better informed

citizens and allow them to follow the debates over national economic policy

reported in the news media. This course is also a foundation course that will

prepare students to be successful in upper division finance, marketing, business

administration, economics, government, and social work courses

 

 

 

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the meaning of unemployment and inflation data and how that data is collected and computed;

         the meaning and components of the National Income Accounts, especially GDP;

         the meaning of the business cycle and its phases;

         and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

         how fiscal policy operates, its tools, and its advantages and drawbacks;

         how a fractional reserve banking system works;

         how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course Evaluation/Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed in class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNEMENT WILL NOT BE ACCEPTED.

 

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is

Wednesday June 22nd 2011.

 

 

 

 

 

 

Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar

Part 1: Introduction

 

Part II: Macroeconomic Data and Long Run Economy

i)        Measurement of National Income & Output

j)        Measurement of Cost of Living

k)      Production and Growth

l)        Unemployment and Its Natural Rate

Reading: Chapters 10, 11, 12, 15

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Wed June 1st , 2011

 

Part III: Long Run Economy, Money and Prices

i)        Saving, Investment and Financial System

j)        The Natural Rate of Unemployment

k)      The Monetary system

l)        Inflation, Its causes and Costs

Reading: Chapters 13, 14, 16, 17

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Wed. June 15th 2011

 

Part IV: Open Economy and Short Run Economic Fluctuations.

g)      Aggregate Demand and Supply

h)      Open Economy

i)        Macroeconomic Policy Debates

Reading: Chapters 20, 21, 22 18, 19,

Quizzes: To be announced)

Homework: (To be announced )

Test III: Tuesday June 28th 2011

 

 

 

 

 

 

Austin Community College

Department of Economics

ECON 2302

Principles of Microeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2302, Principles of Microeconomics.

Section Number: 020

Synonym: 28703

Class Time: M- Th 12:15 2:05 p.m.

Classroom: NRG 2240

Office #: NRG 2131

Office Phone # 512-223-4766;

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: M-Th 11:45am 12:00 noon & 4:15 5:15pm. or By Appointment

 

Course Description-

Principles of Microeconomics deals with the interactions between individual

households and business firms. The concepts of supply and demand will be

studied; students will learn what these concepts mean, how they operate, and how

prices are determined. Market structure, market failure and income distribution

will also be considered.

 

Required Textbook:

Principles of Microeconomics (6th Ed) ISBN 978-0-538-45304-2.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Microeconomics .ISBN 978-0-538-47745-1

David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale-

This course is meant to give students insight into the dynamics of a market based

economy and how through its mechanism scarce resources are allocated. The

theoretical and actual role of the government in this market system will also be

addressed. The knowledge gained in the course will make students better

informed citizens and allow them to follow the debates over various economic

events and policies reported in the news media. This course is also a foundation

course that will prepare students to be successful in upper division finance,

marketing, business administration, economics, government, and social work

courses.

Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the basic concepts of scarcity and opportunity cost;

         the forces of demand and supply and how they interact to determine an equilibrium price;

         how and why equilibrium prices might change and their impact on resource allocation;

         the theory of consumer behavior;

         the theory of the firm;

         the theoretical market structures of perfect competition and monopoly.

 

Course Evaluation & Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed I class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNMENT WILL NOT BE ACCEPTED.

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is Wednesday June 22nd , 2011.


Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.
Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar-

Part 1: Fundamentals

d)     Ten principles

e)      Thinking Like and Economist

f)       Interdependent and Gains from Trade.

 

Reading: Chapters 1, 2, 3, 4

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Wed June 1st , 2011

 

Part II: Supply and Demand Theories

f)       Market Forces of Supply and Demand

g)      Elasticity

h)      Consumer, Producer and Efficiency of Markets

i)        Applications

j)        Cost of Taxation

 

Reading: Chapters 4, 5, 6, 7, 8

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Wed. June 15th 2011

 

Part III Firms and Markets

a)      Cost of production

b)      Firms in Competitive Markets

c)      Monopoly

d)     Oligopoly

e)      Monopolistic Competition

f)       Markets for Factors of Production

Reading: Chapters 13, 14, 15, 16, 17,

Quizzes: (To be announced)

Homework: (To be announced)

Test III: Tuesday June 28th 2011

 

 

 

 

 

 

 

Austin Community College

Department of Economics

ECON 2301

Principles of Macroeconomics

 

Name: Prof. Livingstone Kumassah

Course Name: Econ 2301, Principles of Macroeconomics.

Section Number: 003

Synonym: 27807

Class Time: MW 8:05 p.m.- 9:10 p.m.

Classroom: NRG 2119

Office #: NRG 2131

Office Phone # 512-223-4766

Office Fax #: 512-223-4310

ACC email address: stone@austincc.edu

Office Hours: .MW 7:00pm-8:00pm or By Appointment

 

Course Description-

Principles of Macroeconomics deals with consumers as a whole, producers as a

whole, the effects of government spending and taxation policies and the effects of

the monetary policy carried out by the Federal Reserve Bank. Macroeconomics is

concerned with unemployment, inflation, and the business cycle.

 

Required Textbook:

Principles of Macroeconomics (6th Ed) ISBN 978-0-538-45306-6.

Gregory Mankiw.

 

Optional Study Guide:

Principles of Macroeconomics . ISBN 978-0-538-47720-8 .David R. Hakes

 

Instructional Methodology

The instructional methodology include lectures (to explain the main concepts

and principles you read before coming to class) peer teaching (to reinforce your

understanding of the lectures) video clips (to give examples of economic

principles at work in daily life.

 

Course Rationale

This course is meant to give students insight into the dynamics of our national

economy. The knowledge gained in the course will make students better informed

citizens and allow them to follow the debates over national economic policy

reported in the news media. This course is also a foundation course that will

prepare students to be successful in upper division finance, marketing, business

administration, economics, government, and social work courses

 

 

 

Common Course Objectives/Student Outcomes

Students who complete this course will be able to understand:

         the meaning of unemployment and inflation data and how that data is collected and computed;

         the meaning and components of the National Income Accounts, especially GDP;

         the meaning of the business cycle and its phases;

         and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;

         how fiscal policy operates, its tools, and its advantages and drawbacks;

         how a fractional reserve banking system works;

         how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course Evaluation/Grading System-

There will be three tests during the semester. In addition, homework assignments

and quizzes will be given. The purpose of the quizzes is to help you comprehend

and master the important concepts, terms and principles to be discussed in class

whereas the purpose of the homework is to provide you with the opportunity to

review, retain, recall and apply the materials covered so as to prepare you for the

tests. THERE WILL BE NO MAKE-UP QUIZZES OR TESTS. LATE

HOMEWORK ASSIGNEMENT WILL NOT BE ACCEPTED.

 

Grading

Quizzes 10%

Homework 15%

Tests 75%

 

Grading System

A 90 - 100

B 80 - 89

C 70 79

D 60 - 69

F Below 60

 

Course Policies

Attendance Policy: Attendance is required. If you do not plan to attend lectures

regularly, you are advised to withdraw.

 

Withdrawal Policy: You bear the sole responsibility for your withdrawal from the course just as you did when you registered. The last day to withdraw is Monday July 25th , 2011.

 

Scholastic Dishonesty:
Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.

Students with disabilities:
Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

 

Course Outline & Calendar

Part 1: Introduction

 

Part II: Macroeconomic Data and Long Run Economy

a)      Measurement of National Income & Output

b)      Measurement of Cost of Living

c)      Production and Growth

d)     Unemployment and Its Natural Rate

Reading: Chapters 10, 11, 12, 15

Quizzes: ( To be announced)

Homework:(To be announced)

Test I: Mon June 13th , 2011

 

Part III: Long Run Economy, Money and Prices

a)      Saving, Investment and Financial System

b)      The Natural Rate of Unemployment

c)      The Monetary system

d)     Inflation, Its causes and Costs

Reading: Chapters 13, 14, 16, 17

Quizzes: (To be announced)

Homework: (To be announced)

Test II: Mon July 11th 2011

 

Part IV: Open Economy and Short Run Economic Fluctuations.

a)      Aggregate Demand and Supply

b)      Open Economy

c)      Macroeconomic Policy Debates

Reading: Chapters 18, 19, 20, 21, 22

Quizzes: To be announced)

Homework: (To be announced)

Test III: Mon Aug 8th 2010